Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Earlier this Friday, Bitcoin, the leading cryptocurrency by market cap, surged to an intraday high of $81,025.
Meanwhile, the U.S. dollar index (DXY) plunged to 99.705, the lowest level since April. The widely tracked index shows the strength of the greenback against a slew of foreign currencies.
Meanwhile, the price of gold has hit a new record high of $3,220, extending its record-breaking run.
There is some speculation that Asian investors are currently selling dollar assets and buying gold.
Godfrey BenjaminThe 10-year Treasury yield is on the verge of breaking 4.5%, causing more investor angst.
Miserable triple whammy
As noted by analyst Pietro Vintani, the combination of surging rates and the plunging currency is typical during crises on emerging markets.
Meanwhile, U.S. stock futures were in the red earlier today after plunging sharply lower on Thursday.
Vladislav Sopov
Dan Burgin